UAE Second Wealthiest in Arab World, Says Report
Mega gas projects have catapulted Qatar to the throne of the wealthiest Arab countries to overtake the UAE and become one of the richest nations in the world, according to a report published by the Dubai-based Gulf News.
Official figures showed Qatar is nearly 80 times richer than Mauritania and Sudan in terms of per capita income, and the tiny Gulf state is likely to maintain its position as a super-rich nation for a long time, the report said.
At the end of 2000, the UAE was the second wealthiest member of the 22-nation Arab League while Bahrain and Oman were ahead of Saudi Arabia although it controls a quarter of the world's oil wealth.
From around 14,500 US dollars in 1995, Qatar's per capita income doubled to more than 29,000 dollars in 2000 and the level was expected to be even higher last year as it pushed ahead with profitable sale of liquefied gas. The figures were published in the annual Arab economic report for 2000, which presented a gloomy picture about economic and social conditions in the region.
While the average daily per capita income in Qatar and the UAE stood at around 80.2 dollars and 58.3 dollars respectively in 2000, it was only around 1 dollar in Mauritania, Sudan and Yemen, and 2-3 dollars in Djibouti and Morocco. (Albawaba.com)
© 2002 Al Bawaba (www.albawaba.com)